How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask lwpat Your Own Question

lwpat
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25384
Experience:  Attorney with over 35 years of business experience.
15417118
Type Your Business Law Question Here...
lwpat is online now
A new question is answered every 9 seconds

Question 1 Which of the following is true about the difference

Resolved Question:

Question 1

Which of the following is true about the difference between express and implied warranties?
Answer
• Express warranties apply to merchants and implied warranties apply to all sellers of goods.
• Express warranties apply to merchants and implied warranties apply to nonmerchants.
• Express warranties arise from conduct of the parties and implied warranties arise automatically by operation of law.
• Implied warranties cannot be disclaimed, but express warranties can be disclaimed.
.0.5 points

Question 2

If a corporation commits an ultra vires act, which of the following is not an available remedy?
Answer
• The shareholders may sue for an injunction prohibiting the act.
• The shareholders may sue the officers and/or directors for damages.
• The state Attorney General may automatically bring criminal charges against the officers and/or directors.
• The state Attorney General may sue to dissolve the corporation.
.0.5 points

Question 3

Which of the following activities likely will cause a limited partner to lose his limited liability?
Answer
• Being an employee of the limited partnership.
• Helping with the management of the limited partnership.
• Voting on amendments to the limited partnership agreement.
• Voting on the dissolution of the limited partnership.
.0.5 points

Question 4

X Business Corporation markets its products in three states. Under the Constitution’s commerce clause, Congress can regulate
Answer
• any and all commercial activity in the United States.
• only commercial activities that are in interstate commerce.
• only commercial activities that are local.
• only activities that have nothing to do with commerce.
.0.5 points

Question 5

Which of the following would not be a misappropriation of a trade secret?
Answer
• Paying an engineer who is working at a competitor to disclose the trade secret to you.
• Buying the competitor's product, then tearing it apart and analyzing it in your laboratory to reveal how the product works.
• Hiring a spy to break into a competitor's offices to acquire the secret.
• Asking one of your current engineers to disclose a trade secret of her former employer and she does so.
.0.5 points

Question 6

Which of the following is true about the Americans with Disabilities Act?
Answer
• It affects only the employment of persons with disabilities.
• It clearly sets limits and requirements relevant to employers.
• It not only prevents discrimination based on disabilities, but employers can be required to incur costs in order to accommodate disabled individuals in their jobs.
• It requires employers to ask about an applicant’s disabilities so that the employer knows if the applicant is covered.
.0.5 points

Question 7

Standard Corporation terminates Tom, who sues on the basis of age discrimination. To succeed under the Age Discrimination in Employment Act, Tom must show that at the time of the discharge, he was
Answer
• forty or older.
• forty or younger.
• replaced with someone forty or older.
• replaced with someone forty or younger.
.0.5 points

Question 8

Which of the following is true about sexual harassment in the workplace?
Answer
• If a supervisor approaches someone and asks that person out for a social date, if the supervisor acts in socially customary manner, it generally will be sexual harassment.
• The standards for a hostile or offensive work environment are very vague and depend on all the facts and circumstances.
• Sexual harassment claims require that persons of both sexes be involved.
• Sexual harassment is covered under OSHA as part of workplace safety.

Question 9

The board of directors of Omega, Inc., announces a cash dividend. A cash dividend may not be paid from
Answer
• accumulated surplus.
• gross profits.
• net profits.
• retained earnings.
.0.5 points

Question 10

Standard Company and Tom wish to enter into an agency relationship for the purpose of buying computers for Standard’s offices. The relationship requires as a general rule:
Answer
• a written agreement and consideration
• a written agreement only
• consideration only
• neither a written agreement nor consideration
.0.5 points

Question 11

Standard Office Products orders one hundred computers from National Suppliers. Unless the parties agree otherwise, National’s obligation to Standard is to
Answer
• deliver the computers to a common carrier.
• deliver the computers to Standard’s place of business.
• hold conforming goods and give notice for Standard to take delivery.
• set aside conforming goods for Standard’s inspection before delivery.
.0.5 points

Question 12

In offering to sell amplifiers to X for her theater, Y intentionally misrepresents their capacity. In reliance, X buys the amplifiers. Y’s statement is likely
Answer
• duress.
• fraud or deceit.
• puffery.
• undue influence.
.0.5 points

Question 13

False imprisonment is best defined as:
Answer
• Being held in jail when no formal charges have been filed.
• The intentional confinement or restraint of another without authority or justification and without that person's consent.
• The unethical holding in prison of one who was convicted of crime that the person really did not commit.
• A confinement caused when one accidentally causes another to be confined without that person's consent.
.0.5 points

Question 14

Pat and Don submit their dispute to binding arbitration. A court can set aside the arbitrator’s award if
Answer
• Don is not satisfied with the award.
• Pat is not satisfied with the award.
• the award involves at least $75,000.
• the award violates public policy or if bad faith was involved.
.0.5 points

Question 15

If a buyer delivers nonconforming goods prior to the date that delivery is due, the seller can make the shipment conform and avoid breaching the sales contract under the:
Answer
• Time to conform rule.
• Right to make perfect.
• Reasonable delay doctrine.
• Right to cure.
.0.5 points

Question 16

Which of the following is not one of the three main branches of the U.S. Government?
Answer
• Executive.
• Administrative.
• Judicial.
• Legislative.
.0.5 points

Question 17

Which form of real property ownership includes the greatest degree of ownership?
Answer
• Fee simple subject to condition subsequent.
• Fee simple determinable.
• Fee simple absolute.
• Absolute life estate.
.0.5 points

Question 18

Alpha Corporation and Beta, Inc., form a joint venture to develop and market molecular-based computer chips. A joint venture is similar to
Answer
• a corporation.
• a partnership.
• a sole proprietorship.
• a syndicate.
.0.5 points

Question 19

If a seller breaches a contract for the sale of goods and the buyer then acquires similar goods from another supplier, this is known as the right of:
Answer
• Alternate acquisition.
• Specific performance.
• Cover.
• Contract cancellation.


.0.5 points
Question 20

Eagle Corporation contracts to sell to Frosty Malts, Inc., six steel mixers for $5,000. When Eagle fails to deliver, Frosty buys mix­ers from Great Company, for $6,500. Frosty’s measure of damages is
Answer
• $6,500.
• $5,000.
• $1,500 plus incidental damages.
• nothing.
.0.5 points

Question 21

Which of the following is a false statement?
Answer
• A corporation is liable for the torts of its officers committed within the course and scope of their employment.
• Those shareholders who own preferred stock in a U.S. corporation are the sole owners of that corporate firm.
• A certificate of incorporation or corporate charter represents in the U.S. a state’s authorization for a corporation to conduct business as a corporation.
• Corporations in the U.S. must identify a specific person as an agent to receive legal documentation on behalf of the corporation.
.0.5 points

Question 22

Which of the following is a false statement?
Answer
• Pursuant to the UCC, an agreement modifying a contract generally needs no new consideration to be binding.
• An oral contract for goods that are specially manufactured for a particular buyer may be enforceable under the UCC even without a writing.
• The Convention on Contracts for the International Sale of Goods closely follows the Uniform Commercial Code of U.S. law.
• Pursuant to the Uniform Commercial Code, a merchant who sells one type of good will be considered a merchant for any other type of good that he or she sells since a merchant is a merchant.
.0.5 points

Question 23

Which of the following is a true statement?
Answer
• A legitimate business reason for a neutral employment practice that has a disproportionate effect or adverse impact on minorities may allow the employer in the U.S. to avoid legal liability for discrimination.
• Under the U.S. Americans with Disabilities Act of 1990, disabled job applicants are not entitled to “reasonable accommodation” in employment since that surely would cost employers some money.
• Title VII of the Civil Rights Act does not cover or reach employees’ conduct in the online or “virtual” worlds.
• An employer is not liable for Title VII Civil Rights Acts violations committed by its lower level employees, only by its managers and supervisors since the latter “should know better.”
.0.5 points

Question 24

Which of the following is a false statement?
Answer
• An oral defamatory statement must be communicated to a third party to be actionable, but a written one need not.
• An individual’s right to privacy includes the exclusive use of his or her likeness.
• Intentionally causing a party to break a contract may constitute the common law tort of wrongful interference with a contractual relationship.
• Under the doctrine of strict liability in the U.S., a defendant may be liable for the results of his or her acts even if he or she did not intend those results.
.0.5 points

Question 25

Which of the following is not true about promoters of a corporation?
Answer
• A promoter can be relieved of liability on a contract entered into on behalf of a corporation with a third party if, after the corporation is formed, the third party agrees to a novation.
• A promoter can be relieved of liability on a contract entered into on behalf of a corporation with a third party if, at the time the contract is entered into, the third party agrees to a novation to occur automatically upon the valid creation of the corporation.
• The creation of the corporation does not automatically release the promoter from contracts entered into on behalf of the corporation.
• If the corporation fails to come into existence, the promoter cannot be held liable on contract entered into on behalf of the corporation.
.0.5 points

Question 26

An example of valid consideration is
Answer
• Past gifts
• Moral obligations
• The performance of duties one is already obligated to perform
• None of the above
.0.5 points

Question 27

Which of the following is a false statement?
Answer
• A person who does not know of a reward offer can never claim it since how can one accept what one does not know of.
• For common law consideration to be legally sufficient, it does not necessarily have to consist of the payment of money or transfer of goods.
• A promise by one party to pay another for refraining from performing a legal act is generally enforceable under the common law.
• Normally, a court in the U.S. applying the common law of contract will be able to question the adequacy of consideration to see if the contract is a fair one.
.0.5 points

Question 28

The purpose of a proxy is to:
Answer
• Allow a shareholder to transfer shares to another.
• Allow a shareholder to place shares in trust.
• Allow a shareholder to assign her right to vote to another.
• Allow a shareholder to assign her dividends to another.
.0.5 points

Question 29

Which of the following is a true statement?
Answer
• The offeree is the person who makes an offer.
• A void contract is enforceable if it is in writing pursuant to the Statute of Frauds.
• A contract can be created only when it is accepted by the offeree’s actual performance of an act.
• A unilateral contract is accepted and formed under the common law when the one receiving the offer fully completes the requested act or performance.
.0.5 points

Question 30

The principal hires an agent to manage his restaurant. As a result, the agent hires two people to serve as waitresses. This is an example of typically what type of authority?
Answer
• Implied.
• Express.
• Apparent.
• Ratified.
.0.5 points

Question 31

In which of the following are the partnership events listed in the correct order of occurrence?
Answer
• Winding up, dissolution, termination.
• Dissolution, termination, winding up.
• Dissolution, winding up, termination.
• Termination, dissolution, winding up.
.0.5 points

Question 32

Which of the following statements is not true regarding the dissolution of a partnership under the U.P.A.?
Answer
• Dissolution may occur before the business of the partnership is wound up and the assets distributed.
• The business of a partnership must always be wound up and liquidated upon dissolution, even if the partnership agreement provides that the remaining partners may carry on the business.
• A partnership may always be dissolved at any time by the express will of any partner, even if the partnership agreement provides that it is irrevocably for a fixed term.
• A partnership is dissolved automatically by operation of law upon the death or bankruptcy of any partner.
.0.5 points

Question 33

Which of the following is true?
Answer
• Offers may not be legally revoked before they are accepted under U.S. law since it would be unethical to do so.
• An express contract must be in a formal writing prepared by an attorney.
• Parties cannot form a contract without putting the terms in writing.
• An executed contract is one that has been fully performed by all the parties to the contract.
.0.5 points

Question 34

Which of the following statements is a false one?
Answer
• Violators of emission standards in the U.S. can be subject to civil penalties pursuant to the Clean Air Act.
• Under no circumstances in the U.S. can waste be discharged into navigable rivers since that is pollution.
• Companies in the United States can legally buy and sell rights to pollute in the form of so-called emission credits or pollution permits.
• The common law doctrine of nuisance can be used to obtain an injunction to stop pollution.
.0.5 points

Question 35

Regarding the assignment of contract rights:
Answer
• The party to whom a contract right is transferred to is called the assignee.
• The party who owes the duty of performance is called the obligor.
• The party who transfers his right to another is called the assignor.
• A, B and C.
.0.5 points

Question 36

For which of the following warranties must the seller be a merchant?
Answer
Express warranties.
• Implied warranty of merchantability.
• Implied warranty of fitness for a particular purpose.
• Implied warranty of title.
.0.5 points

Question 37

Under Rule 10b-5, if a non-insider (the tippee) receives material nonpublic information from an insider (the tipper), the tippee usually:
Answer
• May use it to make a profit by buying or selling that company’s stock, only if the tipper voluntarily disclosed the nonpublic information.
• Must disclose that information.
• Must either abstain from trading in that company's stock or disclose the information to the person he is trading with.
• Must abstain from trading in any and all stock.
.0.5 points

Question 38

An example of lack of a contractual capacity issue arises when a contract is made by a
Answer
• A minor
• A drunk
• A person on drugs
• All of the above
.0.5 points

Question 39

Which of the following is a correct statement?
Answer
• Incorporators must sign and execute the articles of incorporation of a U.S. corporation.
• Most states in the U.S. limit the duration of a corporation to fifty years plus a day, which time period can be renewed.
• A tenancy at will under U.S. law is created by an express contract by which personal property is leased for a specific period of time.
• A quitclaim deed warrants more than any other deed under U.S. real estate law.
.0.5 points

Question 40

A contract clause conditioned on the occurrence of an event may best be an example of
Answer
• An express condition
• A condition precedent
• An implied condition
• A covenant
.0.5 points
Save and Submit
Submitted: 3 years ago.
Category: Business Law
Expert:  lwpat replied 3 years ago.
Express warranties arise from conduct of the parties and implied warranties arise automatically by operation of law.

The state Attorney General may automatically bring criminal charges against the officers and/or directors.

Helping with the management of the limited partnership.

only commercial activities that are in interstate commerce.

Buying the competitor's product, then tearing it apart and analyzing it in your laboratory to reveal how the product works.

It not only prevents discrimination based on disabilities, but employers can be required to incur costs in order to accommodate disabled individuals in their jobs.

forty or older.

The standards for a hostile or offensive work environment are very vague and depend on all the facts and circumstances


By law, dividends must be paid from profits; dividends may not be paid from a corporation's capital. Retained earning and accumulated surplus are sometimes used interchangeably. The best answer is retained earnings.



neither a written agreement nor consideration
Customer: replied 3 years ago.
I am looking for answere to the test provided...maybe question 1-20 would be helpful
Expert:  lwpat replied 3 years ago.
I answered one thru ten. Normally it is one question per post.
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25384
Experience: Attorney with over 35 years of business experience.
lwpat and other Business Law Specialists are ready to help you
Customer: replied 3 years ago.
Thank you soooo much
Expert:  lwpat replied 3 years ago.
deliver the computers to a common carrier.

fraud or deceit.

The intentional confinement or restraint of another without authority or justification and without that person's consent.

the award violates public policy or if bad faith was involved.

Right to cure

Administrative

Fee simple absolute

a partnership

Cover

1,500 plus incidental damages
Customer: replied 3 years ago.
thank you...you are a true lifesaver...
Expert:  lwpat replied 3 years ago.
An accept for my time is always appreciated and required for me to receive any credit from JA
Customer: replied 3 years ago.
you would be able to provide me with more answers if I hit Accept...I dont mind the fee
Expert:  lwpat replied 3 years ago.
That is correct.
lwpat, Attorney
Category: Business Law
Satisfied Customers: 25384
Experience: Attorney with over 35 years of business experience.
lwpat and other Business Law Specialists are ready to help you
Customer: replied 3 years ago.
would you be able to assist me with maybe a few more questions, # 21,23,25,26,27... if not i understand I am really do appreciate your help :-)
Expert:  lwpat replied 3 years ago.
Those shareholders who own preferred stock in a U.S. corporation are the sole owners of that corporate firm.

An oral contract for goods that are specially manufactured for a particular buyer may be enforceable under the UCC even without a writing.

A legitimate business reason for a neutral employment practice that has a disproportionate effect or adverse impact on minorities may allow the employer in the U.S. to avoid legal liability for discrimination.


An oral defamatory statement must be communicated to a third party to be actionable, but a written one need not.

If the corporation fails to come into existence, the promoter cannot be held liable on contract entered into on behalf of the corporation.

None of the above

Normally, a court in the U.S. applying the common law of contract will be able to question the adequacy of consideration to see if the contract is a fair one.

Allow a shareholder to assign her right to vote to another.

A unilateral contract is accepted and formed under the common law when the one receiving the offer fully completes the requested act or performance.

Express
Expert:  lwpat replied 3 years ago.
If you want the rest let me know tomorrow.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • Law Pro

    Attorney

    Satisfied Customers:

    1767
    20 years experience in business law - sole proprietor, partnership, and corporations
< Last | Next >
  • http://ww2.justanswer.com/uploads/LA/lawpro/2012-6-25_171315_PT206740s.64x64.jpg Law Pro's Avatar

    Law Pro

    Attorney

    Satisfied Customers:

    1767
    20 years experience in business law - sole proprietor, partnership, and corporations
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    1495
    Run my own successful business/contract law practice.
  • http://ww2.justanswer.com/uploads/DC/DCraneEsq/2012-8-14_14436_DCrane.64x64.jpg MShore Law's Avatar

    MShore Law

    Attorney

    Satisfied Customers:

    1233
    Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    1174
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/scottymacesq/2009-6-10_221523_small.jpg RGMacEsq's Avatar

    RGMacEsq

    Attorney

    Satisfied Customers:

    504
    Licensed Texas General Practice Attorney
  • http://ww2.justanswer.com/uploads/ohioatty/2009-1-22_185545_me.jpg J.Hazelbaker's Avatar

    J.Hazelbaker

    Attorney

    Satisfied Customers:

    393
    Experienced and trained in the area of business law.
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Attorney

    Satisfied Customers:

    373
    14 years practicing attorney, MBA
 
 
 

Related Business Law Questions

Chat Now With A Business Lawyer
lwpat
lwpat
940 Satisfied Customers
Attorney with over 35 years of business experience.